Have you thought about how you are going to transfer your money?
If you are living and working overseas, you may need to transfer your foreign currency for numerous reasons including either a lump sum or regular payments:
- Investments
- Regular mortgage repayments or mortgage deposits
- Superannuation contributions
- Servicing of debt e.g. credit card
Whilst fluctuating exchange rates can have a significant impact on your future wealth, with some simple planning you can protect your money from foreign exchange risk. The risk is that your money will be worth less from the time you are aware that you need to make a foreign currency transfer to the time you actually conduct your foreign currency transfer due to adverse movements in the exchange rate.
Without some form of protection from the currency markets, your plans to relocate to Australia or invest could cost you a lot more than you first planned.
Deciding when to transfer your funds, monitoring the currency markets and achieving the best possible rate are all time consuming processes that often get overlooked (or avoided) in the relocation and investment process.
As one of the leading foreign exchange risk managers HiFX's primary aim is to make the currency aspect of any transaction, as simple, cost effective and stress free as possible.
If you are planning the big move or even just taking the first step, HiFX can help you make the most of your currency transfers. Contact Greg Mason on greg@masonmanagement.com.au OR Vanessa Pettinger on (02) 9251 2626, or email her at info@hifx.com.au today for an obligation free consultation.